Yahoo Finance 5 Retirement Destinations Which Would Benefit from a Trump Win in 2024
No matter what side of the political aisle you fall on, like many Americans you’re probably planning what to do if the former President takes office again. Although there’s no way to predict exactly how a Trump presidency could impact your wallet, it’s generally a good idea for expatriates to seek out retirement locations with favorable tax treatment, lower cost of living and a comfortable culture.
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Whether you believe a Trump presidency is good for the nation or not, here are some international retirement destinations that could become even more popular if he takes office again.
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1. Southeast Asia
Benefits: Ideal if the dollar remains strong.
If you want to stretch your dollars further in an inflationary environment, consider some of Southeast Asia’s choicest ex-pat havens.
Thailand, Malaysia, Cambodia and Vietnam feature an extremely affordable cost of living due to the strong dollar. Some countries in the region may even have a tax treaty with the U.S., which can help you avoid double taxation.
2. Turkey
Benefits: The new digital nomad visa allows you to “try before you buy.”
Turkey is an increasingly popular destination for retirees for many reasons. The cost of living is 63.2% lower than the U.S., and it is ranked among the top countries for healthcare services and favorable tax treatment as a resident. As of 2024, the country has offered a digital nomad visa with very reasonable income requirements, which could open the doors to even more expats.
3. Belize
Benefits: Latin American-like living for English-speaking people.
This English-speaking Central American nation offers retirees a tropical climate and plenty of other financial benefits. The Qualified Retired Persons (QRP) program allows qualified individuals to import personal goods duty-free and exempts all Belizean income taxes on income generated outside the country, such as pensions, social security, or investments.
Learn More: Trump-Era Tax Cuts Are Expiring — How Changes Will Impact Retirees
4. Canada
Benefits: Western-like culture and values with a larger social safety net.
Though potentially much more expensive, many Americans have noted this will be their first stop in case of a successful presidential bid by Donald Trump.
Canada can be very attractive for those who like the idea of staying in North America, along with the prospects of lower crime rates, free healthcare and more extensive public health policies. For some, the higher cost of living is worth the reassurance of a more comprehensive social safety net.
5. Portugal
Benefits: Golden visa programs offer citizenship.
Portugal’s Golden Visa program is hugely popular among retirees seeking European charm and the potential to obtain European citizenship in five years. The Non-Habitual Resident (NHR) tax regime, though being phased out and replaced by the Incentivised Tax Status Program (source), provides significant tax breaks for up to ten years.
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This article originally appeared on GOBankingRates.com: 5 Retirement Destinations Which Would Benefit from a Trump Win in 2024
